Haven't they just been talking about changing how credit scores are made and take it out of the hands of private parties and let the government handle it?
https://www.usatoday.com/story/money/personalfinance/2021/07...
IMF working paper suggests using browsing history in credit score calculations
141–150 of 247 posts
Re: IMF working paper suggests using browsing history in credit score calculations
#142Earlier quoted context omitted.
Question vaccine safety or efficacy in a public forum and you'll see soon what censorship means.
Or say that vaccines confer major protection and the vaccinated should go about their normal lives.
Right? Even suggesting that there might possibly be perverse incentives to prolong a state of emergency will raise ire and draw ban hammers.
Re: IMF working paper suggests using browsing history in credit score calculations
#143Earlier quoted context omitted.
> Why then do we not take income into account in credit worthiness? We...do. Any significant credit application will look at your employment history, income, and credit score, not just the latter. > Why do I not periodically upload my W2 or tax return to the credit bureaus in order to show that yes, I'm credit-worthy because my income makes it possible to service my debt? Credit reporting companies do gather and prov…
In reply to your first point, the original article discusses credit score, which does not use income in any way. You're talking about applying for loans, which use a credit score and other factors to determine credit worthiness. My points are relevant to the credit score only. Consider the fact that conflating credit score to credit worthiness (respectfully, as your reply does) as the biggest indicator of the brokenn…
> Consider the fact that conflating credit score to credit worthiness (respectfully, as your reply does)
No, it doesn't. My reply was to a question that did that, and explicitly corrected it, identifying other factors considered in creditworthiness besides credit score.
Re: IMF working paper suggests using browsing history in credit score calculations
#144Earlier quoted context omitted.
In reply to your first point, the original article discusses credit score, which does not use income in any way. You're talking about applying for loans, which use a credit score and other factors to determine credit worthiness. My points are relevant to the credit score only. Consider the fact that conflating credit score to credit worthiness (respectfully, as your reply does) as the biggest indicator of the brokenn…
> Consider the fact that conflating credit score to credit worthiness (respectfully, as your reply does) No, it doesn't. My reply was to a question that did that, and explicitly corrected it, identifying other factors considered in creditworthiness besides credit score.
Again, my original comment is merely a criticism of credit score and not the entire consumer lending infrastructure. Three credit bureaus purport to have a comprehensive opinion of someone's credit worthiness without considering their income and that's broken, full-stop.
Re: IMF working paper suggests using browsing history in credit score calculations
#145Earlier quoted context omitted.
sure but you have the ability to post under a moniker that isn't tied to my SSN that private places are able to query against.
Look at the news the last two weeks, blanket condemnation of the Afghanistan withdrawal despite 70÷ approval for it and the fact that all of these educated news people have been around watching for the last 20 years. Yet we can't get a microphone, airtime or column inches for anyone in favor of the withdrawal. I'm free to post pseudonymously though!
I wonder if some corps are upset they won't be selling more bullets and gas to the army?
First Korea, now this...
Re: IMF working paper suggests using browsing history in credit score calculations
#146Earlier quoted context omitted.
Ok, I’ll indulge you. What is the 2+2=4 for you that you are prevented from saying?
Lol - it turns out it's some antivax conspiracy nonsense that was flagged to death yesterday: https://news.ycombinator.com/item?id=28275671 Orwell indeed.
I am not referring to that argument. There was no "antivax conspiracy nonsense" ... Just people who can't read.
I have made no statements regarding vaccination.
However, I do consider delaying until after the approval announcement the release of the update to what is known about how many people who are fully vaccinated against Covid19 are dying from Covid19 or being hospitalized due to Covid19 to be suspicious.
That is not a conspiracy theory. It happened. Information that was due to be released on Friday was delayed and released after the FDA approval on Monday. The updated information showed that known rates of death from Covid19 among those fully vaccinated against Covid19 continued to increase.
Plus, the CDC does not put out a proper time series table[1]. Every week, they overwrite the information from the previous week so one is forced to rely on external snapshots[2] to preserve what should be public record. Plus, many states don't even release or track information about the vaccination status of people who are hospitalized or who die from Covid19. For months now, CDC have been saying:
> Ultimately, CDC will use the National Notifiable Diseases Surveillance System (NNDSS) to identify vaccine breakthrough cases.
What is the holdup?
I summarized why you want to care about that here: https://news.ycombinator.com/item?id=28287440
None of this is a conspiracy theory: https://news.ycombinator.com/item?id=28280087
[1]: https://www.cdc.gov/vaccines/covid-19/health-departments/bre...
[2]: https://archive.ph/https://www.cdc.gov/vaccines/covid-19/hea...
Re: IMF working paper suggests using browsing history in credit score calculations
#147Earlier quoted context omitted.
Question vaccine safety or efficacy in a public forum and you'll see soon what censorship means.
Watch this get downvoted to prove his point.
1984 was not a novel about getting downvoted by other people because they didn’t feel your point was a particularly good or insightful contribution to a discussion board, nor is a downvote in any way equal to censorship in any meaningful sense, so it seems a bit hysterical to suggest it somehow “proves his point”.
Re: IMF working paper suggests using browsing history in credit score calculations
#148Earlier quoted context omitted.
All major US credit card issuers. Many auto lenders. Most of consumer credit outside of mortgages operates without any real income verification. Here, "large" runs at least up to $50k-$100k per lender without any meaningful income verification.
They usually ask you for your income in the credit card application. If you lie, you may be committing credit card fraud.
A person may open a credit card at 18 and be given a limit of $2,000. That card may still be open 10 years later, when the issuing bank raises the limit to $20,000. Many banks do not even require attestation of income to raise limits like this. This is what I mean by no meaningful income verification.
Income verification is what happens when you buy a mortgage. It has nothing in common with the credit card process.
Re: IMF working paper suggests using browsing history in credit score calculations
#149Somehow I have a feeling that each passing day, things are getting tighter and tighter and private corporation and government institutions are getting more controlling and totalitarian. That feeling like slowly being boiled into 1984.
>private corporation and government institutions are getting more controlling and totalitarian At least I have a voice in government. I don't get a voice when Experian (or Google, or any private company) decides to blacklist me arbitrarily.
How long before your creditworthiness determines your eligibility to vote? Don't laugh, or Texas will find a way to use it! (as a Texan ashamed of current moves against voting)
Re: IMF working paper suggests using browsing history in credit score calculations
#150Earlier quoted context omitted.
All major US credit card issuers. Many auto lenders. Most of consumer credit outside of mortgages operates without any real income verification. Here, "large" runs at least up to $50k-$100k per lender without any meaningful income verification.
If you work for a large company or a small company using most payroll processing services, your pay is probably easily retrievable by any creditor. https://krebsonsecurity.com/2017/11/how-to-opt-out-of-equifa... Even though the article is old, I saw my last few years' pay history in the links provided there. Opting out feels like a devil's bargain: credit will presumably cost you more or be harder to get as a result.…
Self-employed for many years. Anecdote, but I can tell you that my access to consumer credit has not been impacted in any way by my compensation not appearing in those databases.